By Karen Bong
KUCHING, Feb 24: Bank Negara Malaysia (BNM) will enforce a ‘kill switch’ policy for all banking institutions to enable users to immediately freeze or suspend their accounts, including ATM cards if suspicious activities are detected.
Prime Minister Datuk Seri Anwar Ibrahim announced when tabling the National Budget 2023 today as part of the Federal government’s measures to combat online frauds and scams, which are rising in the country.
“For 2022 alone, more than 25,000 of such crimes were recorded with a loss of RM850 million.
“Although the government has established the National Scam Response Centre (NSRC), there is no uniform policy in dealing with this issue as each banking institution issues its own guidelines,” he said when tabling the budget in Parliament, Kuala Lumpur which was broadcast live today.
To strengthen the role of NSRC, Anwar also announced that RM10 million will be allocated for operating grants. — DayakDaily
